Carret Asset Management LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Carret Asset Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 979.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,780 shares of the semiconductor manufacturer’s stock after acquiring an additional 27,022 shares during the period. Carret Asset Management LLC’s holdings in Broadcom were worth $5,137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB boosted its holdings in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Raymond James & Associates raised its position in shares of Broadcom by 855.4% in the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after buying an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC grew its position in Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after buying an additional 8,242,455 shares in the last quarter. Pathway Financial Advisers LLC grew its position in Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after buying an additional 7,280,304 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Broadcom by 958.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,267,031 shares of the semiconductor manufacturer’s stock worth $564,183,000 after acquiring an additional 2,958,257 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $179.24 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm’s 50-day moving average price is $168.53 and its two-hundred day moving average price is $155.27. The stock has a market capitalization of $834.34 billion, a price-to-earnings ratio of 155.86, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12-month low of $82.72 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the company posted $0.95 EPS. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.35%.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.